SK Bioscience announced on Dec. 12 that the next-generation pneumococcal vaccine, which is being developed jointly with Sanofi Pasteur, passed the U.S. Food and Drug Safety Administration's approval of its clinical trial plan, called the IND, and entered the first clinical trial stage early this month.
SK Chemical, the parent company of SK Bioscience, signed a contract with Sanofi Pasteur, a global vaccine company, to jointly develop and sell the next-generation pneumococcal vaccines in 2014.
Under the existing contract, Sanofi Pasteur will cooperate with SK Bioscience for the overall development process of pneumococcal vaccine, including approval and marketing.
According to the global market research firm, Data Monitor Healthcare, the market for pneumococcal vaccine amounted to about 5.2 trillion won in 2016, only in the United States, Japan and five major EU countries. It is expected to grow to about 7.1 trillion won by 2025.
"Our goal of creating a premium vaccine that leads the global market with the next-generation innovative technology is becoming a reality. We will promote the health of mankind through innovative vaccine technology," said SK Bioscience CEO Ahn Jae-yong.